Energy Minister, Boakye Agyarko, has revealed a 15-year gas deal clinched with Equatorial Guinea recently could bring about reduced tariffs for power.
“It is our faithful expectation that gas, as a feed stock instead of liquid fuels, will be cheaper in terms of power production. This could mean that once the cost of electricity production comes down, we could be in the further position to improve or lower the user tariffs that our citizens pay for electricity,” the Minister noted.
The bilateral agreement was reached when President Nana Akufo-Addo paid a three-day State visit to Equatorial Guinea.
He added that if the expected gas is delivered properly, it will enable the Asogli Power Plant to expand its production from 120 megawatts to 580 megawatts.
This, he says, will go a long way to stabilizing the electricity generation, transmission, and distribution situation in the country.
